The Goldman Sachs Group Forecasts Strong Price Appreciation for PBF Energy (NYSE:PBF) Stock

PBF Energy (NYSE:PBF) had its target price raised by stock analysts at The Goldman Sachs Group from $33.00 to $41.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. The Goldman Sachs Group’s price target suggests a potential downside of 5.20% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. Wolfe Research downgraded shares of PBF Energy from a “peer perform” rating to an “underperform” rating and set a $23.00 price target for the company. in a report on Monday, December 8th. Citigroup boosted their target price on PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. BMO Capital Markets restated a “market perform” rating and set a $34.00 price target on shares of PBF Energy in a research report on Monday, January 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of PBF Energy in a research report on Monday, December 29th. Finally, Mizuho upgraded PBF Energy from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $31.00 to $38.00 in a report on Friday, December 12th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, PBF Energy presently has an average rating of “Reduce” and a consensus price target of $31.15.

PBF Energy Stock Performance

PBF Energy stock traded up $1.26 during trading hours on Thursday, hitting $43.25. The stock had a trading volume of 3,410,307 shares, compared to its average volume of 3,709,647. PBF Energy has a fifty-two week low of $13.61 and a fifty-two week high of $47.18. The company has a market cap of $5.06 billion, a PE ratio of -29.35, a price-to-earnings-growth ratio of 4.22 and a beta of 0.41. The company has a 50-day moving average of $34.26 and a two-hundred day moving average of $32.23. The company has a quick ratio of 0.51, a current ratio of 1.21 and a debt-to-equity ratio of 0.40.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.64. PBF Energy had a negative net margin of 0.54% and a negative return on equity of 8.86%. The firm had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the previous year, the company earned ($2.82) earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. On average, equities research analysts anticipate that PBF Energy will post -1.12 EPS for the current fiscal year.

Insider Activity

In related news, insider Control Empresarial De Capital sold 903,100 shares of PBF Energy stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $42.62, for a total value of $38,490,122.00. Following the completion of the sale, the insider directly owned 26,469,098 shares in the company, valued at $1,128,112,956.76. This trade represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas J. Nimbley sold 200,000 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $40.07, for a total transaction of $8,014,000.00. Following the transaction, the director owned 790,716 shares in the company, valued at approximately $31,683,990.12. The trade was a 20.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 4,212,979 shares of company stock worth $158,329,922. 5.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC lifted its stake in PBF Energy by 197.7% in the third quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 589 shares during the period. Torren Management LLC bought a new stake in shares of PBF Energy in the 4th quarter valued at about $30,000. Los Angeles Capital Management LLC acquired a new stake in shares of PBF Energy in the 4th quarter valued at approximately $31,000. Deseret Mutual Benefit Administrators boosted its stake in PBF Energy by 62.3% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 440 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in PBF Energy by 235.7% during the third quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 912 shares during the period. 96.29% of the stock is currently owned by institutional investors.

About PBF Energy

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.